Question: 2. Every project manager understands risks are inherent in projects. No amount of planning can overcome risk. (a) State six reasons why risk management is

2. Every project manager understands risks are

2. Every project manager understands risks are inherent in projects. No amount of planning can overcome risk. (a) State six reasons why risk management is important in a project. (6) (b) Table below shows the risk analysis of 5 tasks of a project. Table 1: Risk analysis If severity score is taken to be Likelihood Score x Impact Score, calculate the severity scores for the tasks. Develop a 55 risk severity matrix and plot the 5 tasks in the matrix based on the calculated severity scores. Determine the level of risk severity based on the following categories: High = Score 1625 Medium = Score 815 Low =16 If you were given a chance to reduce the impact score for either Task C or Task E by one, choose. a task and state your reason. (14)

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